An all green equity Monday, every major stock region saw gains today led by Emerging Markets and Tech Stocks (Nasdaq). Markets were perhaps buoyed by better than expected Durable Goods orders, or perhaps another round of better than expected earnings from companies big and small.
Today’s gains bring the S&P positive for the year and Emerging Markets very close to positive. The wonder of the year, of course, remains the Nasdaq and its’ FAANG friends.
Fixed income returns were pretty muted on the day, led by gains in lower quality issues and bank loans.
Economically we get to see Consumer Confidence and Case-Shiller home prices. Earnings-wise we hear from Pfizer, 3M, Altria, Cummins, McDonalds, and Sherwin-Williams among others. It should be another fun day in the markets, and a stepping stone to Thursday when Apple, Google, Amazon, and Facebook report; so hold on to your hats!
Daily Reading
The coming eviction crisis is going to be devastating
Factset S&P earnings update
Some love for US Stocks
It’s not the wolves, it’s the people
The 2020 Audubon photos of the year
Till tomorrow,
Nathan